FedNow Director Product Strategy

Company

Federal Reserve Bank of Boston is seeking a FedNow Director Product Strategy. Federal Reserve Financial Services (FRFS) delivers a suite of payments services to financial institutions via FedLine Solutions, FedNowSM, Fedwire, National Settlement Service (NSS), FedCash, FedACH (Automated Clearing House), and Check Services. We are currently leading a strategic effort to transform FRFS to a national, enterprise-focused organization.

This position is a unique opportunity to be part of a mission-critical Federal Reserve initiative that is transforming the payments landscape in the United States. Candidates that live near one of our Reserve Bank locations will be provided some work from home flexibility.

Position Contributions

The Product Strategy Director will have the opportunity to spur innovation and shape the future of payments in the US by helping to formulate a vision and strategy for future value-add products and defining the customer and ecosystem value proposition.

What you’ll be doing:

1. Product Strategy and Discovery: Assist in development of a multi-year FedNow product roadmap to ensure our services truly meet customer needs, stay ahead of emerging trends, and deliver business value.
2. Industry Research and Analysis: Lead and oversee market and user research and leverage analytics to gather quantitative and qualitative data to make informed product roadmap and requirements recommendations and decisions.
3. Partner Engagement: Lead and oversee close collaboration with cross-functional teams to help shape the product roadmap and execute on product strategy.
4. Team Culture and Collaboration: Be an active contributor to the team’s collaborative and inclusive culture.
5. Leadership: Oversee a team of product strategists, inspire, influence, provide guidance and development opportunities.

What will be expected of you:

1. Strategic Thinking: Establish the vision, overseeing analysis of customer trends, understanding industry needs, and identifying opportunities to enhance the FedNow Service.
2. Collaboration & Adaptability: Be a strong and collaborative team player with the ability to effectively partner with cross-functional stakeholders.
3. Focus on the Customer: Be a strong advocate for financial institutions and service providers by understanding their challenges and needs.
4. People Leader: Inspire, enable and empower your team to bring innovative ideas and solutions forward.
5. Execution and Delivery: Oversee the execution of strategic priorities ensuring timely delivery of product discovery analysis and product proposals.
6. Communication: Exceptional communication skills and at ease presenting to leadership teams.

Expertise you would bring:

1. 7+ years of hands-on product management, analytics, strategy experience.
2. 3+ years of experience managing people.
3. 3+ years leading cross-functional product teams.
4. Proven experience in ideating, building and implementing financial related products.
5. Knowledge of the instant payment landscape and related payments policy.
6. Ability to adjust to evolving business priorities.
7. Proactive and intentional learner willing to quickly understand new systems and methods.
8. Ability to think strategically, problem-solve, and clearly communicate complex ideas to stakeholders.
9. Proven ability to lead a team and deliver results across cross-functional stakeholders.
10. Strong analytical and problem-solving skills.
11. Bachelor's degree in finance, business administration, public policy, economics, marketing or related field or a combination of commensurate education and experience; MBA/MA preferred.

The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to providing equal employment opportunities to all persons.